Is an adjustable rate reverse mortgage the best cash out solution for persons 62 and older?
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Yes and No. For a homeowner with significant home equity and little cashflow a reverse mortgage often makes the most financial sense. However, reverse mortgages have higher closing costs than "forward" or normal mortgages. If a homeowner's cashflow is sufficient to qualify for either a regular cash-out refinance or a second mortgage, I would generally prefer to avoid a reverse mortgage.